Author: Euronews

The e-commerce giant will replace drugstore operator Walgreens Boots Alliance on the Dow, before the opening of trading on Monday. ADVERTISEMENTAmazon is joining the likes of Microsoft, Apple, Disney and other giants on the Dow Jones Industrial Average (DJIA), the stock market index of 30 prominent companies listed on stock exchanges in the United States.As one of the three most popular stock indexes in the US, Dow, which debuted in 1896, is known for providing a reliable reflection of how the most value-oriented, well-established and large-cap companies are performing, and whose prices tend to be less volatile.The e-commerce giant will…

The deal has finally been done some 15 months after the Glazer family announced a strategic review of the football club, which also included the possibility of selling it. ADVERTISEMENTPetrochemical billionaire Sir Jim Ratcliffe now owns a 27.7% minority stake in Manchester United, through his company Trawlers Limited. A lifelong United fan, Sir Jim is best known for being the head of the INEOS conglomerate.His initial offer was for a 25% stake in the club, which includes a 25% stake in Class A shares, as well as a 25% stake in Class B shares, at $33 (€30.5) per share for…

While low earners are certainly “far worse off” than those in the middle, evidence shows many households on median income “continue to face economic struggles”, according to a new report. ADVERTISEMENTUK citizens earning the average or close to the average wage are finding it hard to pay rent, afford food and purchase other essentials, according to a new report, as the country grapples with the cost of living crisis gripping Europe.A study published by the abrdn Financial Fairness Trust said that people near the middle of the UK’s income distribution (which can range between £29,000 and £65,000 – or €34,000…

The investigation by the UK’s Financial Conduct Authority is looking into now-banned car finance deals. ADVERTISEMENTUK bank Lloyds has reported pre-tax profits of £7.5 billion (€8.8 billion) for 2023, soaring by more than 50% from the year before.The bank said on Thursday that changes in interest rates, which the Bank of England has been using to tackle persistent inflation in the UK, were one of the main reasons for the increase in its income.”The Group delivered a robust financial performance, meeting our 2023 guidance, driven by income growth, cost discipline and strong asset quality,” Charlie Nunn, the Lloyds Group’s chief executive,…

Russian propagandists accused Ukrainian President Volodymyr Zelenskyy of attempting to assassinate the French president – but it turns out the video segment aired on France 24 is a deep fake generated by artificial intelligence. ADVERTISEMENTFrench President Emmanuel Macron had to postpone his visit to Ukraine last week, citing security reasons without giving more detail. Very quickly, rumours started to swirl on social media. According to a video segment allegedly aired on the international news channel France 24, the reason why Emmanuel Macron cancelled his trip is because Kyiv was preparing to assassinate the French leader.The video looks like it was show…

Shares in Rolls-Royce Holdings climbed around 7% on Thursday morning after the company reported a pre-tax profit on surging revenue and cost savings. ADVERTISEMENTThe UK aerospace and defence company posted a pre-tax profit of £2.43 billion (around €28 bn) for 2023 compared with a pre-tax loss of £1.50 billion (around €1.7 bn) the year before. Revenue rose to £16.49 billion (around €19 bn) from £13.52 billion (around €15.7 bn), beating Visible Alpha consensus of £15.33 billion.Underlying operating profit—a key metric that strips out exceptional and other one-off items—rose by £900 million (around €1.05 bn) to £1.59 billion (around €1.8 bn). Free cash flow was around €1.5…

A range of short and medium-term actions have been identified by the EU executive to ease the administrative burden on farmers – a major cause of discontent. ADVERTISEMENTThe simplification package, sent to the Belgian EU presidency on Thursday (22 February) and seen by Euronews, is an attempt to answer the complaints of European farmers who have taken to the streets across the continent since the end of last year.The set of proposals will be discussed in an extraordinary gathering of EU agricultural ministers next Monday (26 February), a meeting outside of which farmers are planning to demonstrate.Some of the measures…

The most famous crypto yielded almost 5,000% over the last decade. ADVERTISEMENTLondon’s property market has proved to be one of the best bets for investment over the past 10 years, with a yield of more than 44%, according to a new market analysis by British estate agency Foxtons.The estate agent analysed the performance of the UK capital’s residential property market against nine other popular investment options, including Bitcoin and the FTSE 100. It found that only two investment assets have delivered higher return on investment over the past decade.  It is hard to beat the breathtaking 4,963% yield Bitcoin has seen in that 10-year…

Turkey held its key interest rate at 45% on Thursday as consumer prices rose by nearly 65% in January. ADVERTISEMENTTurkey’s central bank left its key interest rate unchanged at 45%, pausing a series of aggressive rate hikes aimed at taming high inflation in the country.The central bank said it was keeping the benchmark one-week repo rate on hold, which was the bank’s first interest rate decision under its newly appointed governor, Fatih Karahan.The move was in line with expectations the rate would be kept constant after the bank said last month that monetary tightness needed to “establish the disinflation course”…

A spokeswoman for the High Court said that Kwon’s lawyers have three days to appeal against the ruling. ADVERTISEMENTA court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea.Kwon, 32, was arrested nearly a year ago in Montenegro on an international arrest warrant in connection with a $40 billion (€37 billion) crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world. Both South Korea and the US have requested Kwon’s extradition from Montenegro.High Court spokeswoman Marija Rakovic said on Thursday…